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Maxlinear Inc (MXL) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

SEC Filings

Maxlinear Inc

CIK: 1288469 Ticker: MXL

Exhibit 99.1
mxla01a01a421.jpg
FOR IMMEDIATE RELEASE

MaxLinear, Inc. Announces Fourth Quarter 2020 Financial Results

Record net revenue of $194.7 million, up 24% sequentially and up 178% year-on-year
Delivers strong results driven by continued strength from Broadband and Wi-Fi product contributions

Carlsbad, Calif. – February 3, 2021
– MaxLinear, Inc. (NYSE: MXL), a leading provider of RF, analog, digital and mixed-signal integrated circuits, today announced financial results for the fourth quarter ended December 31, 2020.

Fourth Quarter Financial Highlights
GAAP basis:
Net revenue was $194.7 million, up 24% sequentially, and up 178% year-on-year.
GAAP gross margin was 42.7%, compared to 42.3% in the prior quarter, and 52.3% in the year-ago quarter.
GAAP operating expenses were $106.7 million in the fourth quarter 2020, or 55% of net revenue, compared to $100.8 million in the prior quarter, or 64% of net revenue, and $44.6 million in the year-ago quarter, or 64% of net revenue.
GAAP loss from operations was 12% of revenue, compared to loss from operations of 22% in the prior quarter, and loss from operations of 11% in the year-ago quarter.
Net cash flow provided by operating activities was $74.3 million, compared to net cash flow used in operating activities of $16.6 million in the prior quarter, and net cash flow provided by operating activities of $28.1 million in the year-ago quarter.
GAAP diluted loss per share was $0.33, compared to diluted loss per share of $0.50 in the prior quarter, and diluted loss per share of $0.11 in the year-ago quarter.
Non-GAAP basis:
Non-GAAP gross margin was 57.8%. This compares to 58.0% in the prior quarter, and 64.6% in the year-ago quarter.
Non-GAAP operating expenses were $75.8 million, or 39% of revenue, compared to $61.1 million or 39% of revenue in the prior quarter, and $30.0 million or 43% of revenue in the year-ago quarter.
Non-GAAP income from operations was 19% of revenue, compared to 19% in the prior quarter, and 22% in the year-ago quarter.
Non-GAAP diluted earnings per share was $0.39, compared to diluted earnings per share of $0.32 in the prior quarter, and diluted earnings per share of $0.16 in the year-ago quarter.

Recent Business Highlights

Announced three new high-current DC/DC Power modules that simplify FPGA, DSP, and SoC power management designs in infrastructure applications.
Announced that MaxLinear’s wireless transceiver chipsets are used in Microelectronics Technology Inc. (MTI) Remote Radio Unites (RRUs) targeting specific greenfield Open Ran deployments for 4G and 5G applications.
Announced that MaxLinear’s new WAV664 Wi-Fi SoC was selected by Wi-Fi Alliance as an official Wi-Fi 6E test bed device.

1

The following information was filed by Maxlinear Inc (MXL) on Wednesday, February 3, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Maxlinear Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Comprehensive Loss (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders Equity Statement
Balance Sheet Details
Balance Sheet Details (Tables)
Balance Sheet Details - Accrued Expenses (Detail)
Balance Sheet Details - Cash And Investments (Details)
Balance Sheet Details - Intangible Assets (Detail)
Balance Sheet Details - Inventory (Detail)
Balance Sheet Details - Other Assets (Details)
Balance Sheet Details - Property And Equipment (Detail)
Balance Sheet Details Balance Sheet Details - Aoci (Details)
Balance Sheet Details- Accrued Price Protection Liability (Details)
Business Combinations (Details)
Business Combinations (Notes)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies Commitments And Contingencies-Additional Details (Details)
Debt And Interest Rate Swap (Details)
Debt And Interest Rate Swap (Notes)
Debt And Interest Rate Swap (Tables)
Employee Retirement Plan
Employee Retirement Plan (Details)
Employee Retirement Plan (Tables)
Financial Instruments
Financial Instruments (Tables)
Financial Instruments Financial Instruments (Details 1)
Financial Instruments Financial Instruments (Details 2)
Financial Instruments Financial Instruments (Details 3)
Financial Instruments Financial Instruments - Additional Information (Details 4)
Goodwill And Intangible Assets - Schedule Of Goodwill (Details)
Goodwill And Intangible Assets Finite-Lived Intangible Assets (Details)
Goodwill And Intangible Assets Goodwill And Intangible Assets (Details 2)
Goodwill And Intangible Assets Goodwill And Intangibles Other (Details 1)
Goodwill And Intangible Assets Goodwill And Intangibles Other (Details 4)
Goodwill And Intangible Assets Notes
Goodwill And Intangible Assets Tables (Tables)
Income Taxes
Income Taxes Components Of Deferred Income Tax Asset (Details)
Income Taxes Components Of Income Tax Provision (Benefit) (Details)
Income Taxes Income Tax (Tables)
Income Taxes Income Tax Expense (Benefit) (Details)
Income Taxes Income Taxes - Additional Information (Details)
Income Taxes Provisional Amounts Disclosures Related To Tax Cuts And Jobs Act (Details)
Income Taxes Schedule Of Income Before Income Tax Domestic And Foreign (Details)
Income Taxes Unrecognized Tax Expense (Benefit) Roll Forward (Details)
Item 15 (Details)
Item 15 (Notes)
Leases (Details)
Leases (Notes)
Leases (Tables)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Additional Information (Detail)
Net Loss Per Share - Summary Of Basic And Diluted Earnings Per Share (Detail)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Details Textuals)
Organization And Summary Of Significant Accounting Policies (Policies)
Restructuring Activity
Restructuring Activity Restructuring Activities (Details Textuals) (Details)
Restructuring Activity Restructuring Activity (Details 1)
Restructuring Activity Restructuring Activity (Details 2)
Restructuring Activity Restructuring Activity (Tables)
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers Revenue From Contracts With Customers
Selected Quarterly Financial Data
Selected Quarterly Financial Data (Details)
Selected Quarterly Financial Data (Tables)
Significant Customer And Geographic Information
Significant Customer And Geographic Information (Details)
Significant Customer And Geographic Information (Tables)
Stock-Based Compensation
Stock-Based Compensation And Employee Benefit Plans (Tables)
Stock-Based Compensation And Employee Benefit Plans - Additional Information (Detail)
Stock-Based Compensation And Employee Benefit Plans - Espp (Details)
Stock-Based Compensation And Employee Benefit Plans - Expense By Type (Detail)
Stock-Based Compensation And Employee Benefits Plan - Awards (Details)
Stock-Based Compensation Stock Compensation Awards Activity Roll Forward (Details)
Stock-Based Compensation Stock Reserved For Future Issuance (Details)
Stock-Based Compensation Stock-Based Compensation And Employee Benefit Plans - Stock Options (Details)
Ticker: MXL
CIK: 1288469
Form Type: 10-K Annual Report
Accession Number: 0001288469-21-000013
Submitted to the SEC: Thu Feb 11 2021 5:25:33 PM EST
Accepted by the SEC: Thu Feb 11 2021
Period: Thursday, December 31, 2020
Industry: Semiconductors And Related Devices

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